Foundatlon
Manchester United Foundation
(A Company Limited by Guarantee)
Annual Report and Financial Statements
Year Ended 30 June 2024
Charity Numbei: 1118310
Company Number: 05845172

Manchester United Foundation
(A Company Limited by Guarantee)
Contents
Chair's Review for the year ended 30 June 2024
Page 3
Report of the Trustees (incorporating the Strategic Report) for the year
ended 30 June 2024
Page 4
Reference and Administrative Details
Page 23
Independent Auditors. Report to the Members of Manchester Untted
Foundation
Page 24
Consolidated Staternent of Financial Activities induding an Income and
Expenditure Account for the year ended 30 June 2024
Page 28
Consolidated Balance Sheet as at 30 June 2024
Page 29
Charitable Company Balance Sheet as at 30 June 2024
Page 30
Consolidated Statement of Cash Flows for the year ended 30 June 2024
Page 31
Charitable Company Statement of Cash Flows for the year ended 30 June
2024
Page 32
Notes to the Financial Statements for the year ended 30 June 2024
Page 3349

Manchester United Foundation
(A Company Limited by Guarantee)
Chair's Review for the year ended 30 June 2024
Looking back at another yearfs work at Manchester United Foundation gives me great pride. The
importance of the work we do in the communities of Greater Manchester and beyond really cannot be
underestj'mated, engaging with young people living in areas with the highest levels of social and
economic deprivation.
This report gives us the opportunity to ￿llect on this work and highlight, once again, what a pillar of the
community Manchester United Foundation has become.
This year, the social value of ourwork is estimated to amountto over£50 million, meaning that for every
pound we spend, we generated £10.33 of social value. We've also seen an astonishing 65% increase
in unique participants attending our projects, taking the total from 25,587 to 42,178. Some of this is
down to the launch of our inclusive learning programme, Skills Lab, based in the Old Trafford museum.
Not only has this inspired thousands of local participants from our partner schools and colleges but has
allowed us to connect with over 12,000 young visitors from across the globe.
To me, this demonstrates not only the wide variety of our offering - catering for a large age range with
activities to suit all abilities and talents - but also the increase in need for our support, and why the
efforts of our dedicated staff must continue.
Some of the aforementioned offerings that excite me the most is our extracurricular and further
education opportunities that we facilitate in conjunction with our partners. One example of this is our
Sport and Youth Leadership degree, delivered at Manchester Metropolitan University, which is now in
its second year This ensures that we can now provide participants with a bridge from education to the
working world. When you read the stories of Arissa, Lexi and Jack in this report, you will see just why
the work we do with young people during their formative years is crucial to ensure that when they reach
this point in their lives. they are emotionalty and educationally ready.
The Premier League and PFA continue to serve as a vital part of our delivery as essential and long-
term funding partners, and we ensure our continuous improvement by complying with their Capability
Code of Practice. This governan￿ and management prO￿S covers a comprehensive audit cf our
organisation in which this year, the Foundation was graded exemplary. gaining 1 OOYO in all 15 areas of
our legal requirements, duties and obligations". Knowing we have achieved such exceptionally high
standarés should be a source of great pride to all staff and Board members.
And of course, our work VK•uld be much more difficult to cary out We￿ it not for the incredible support
we reTrived from our fans. Whether it is raising over half a million pounds through the Season Ticket
Holder donation scheme, or bringing coats to donate as part of our winter appeal, United fans are
always there to help. I want to take this opportunity to thank everybody who has pledged their support
this past year, and hopefully you will understsnd - by reading this review - why it is needed more than
ever.
Collette Roche
Chair of Trustees
13th March 2025
struc￿[8, Affiliated Club, Goveman(* and Th8 Board. People. Strategy and Implementation, Impact, Accountability and
Communication, Finance, Safeguarding. Equality, DNersrty and Indusion. Data Protection, Ri8k Management. Heallh and Safety.
Incident Reporting and Environmental and Sustainabilty.

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
{incorporating the Strategic Report)
The Trustees present their report and audited consolidated financial statements of Manchester United
Foundation (the "Charity" or the "Company" or°MUF° or °Foundation°) and its subsidiary, Manchester
United Foundation (Trading) Limited (the 'Trading Subsidiary. or"MUFf) (together"the Group.) for the
year ended 30 June 2024. The financial statements comply with the Charities Act 2011, the Companies
Act 2006 and Accounting and Reporting by Charities" Statement of Recommended Practice applicable
to charities preparing their accounts in accordance with the Financial ReportirKJ Standard applicable in
the UK and Republic of Ireland (FRS102) (effeclive 1 January 2019).
Objects and Public Benefit
Objects
The objects of the Charlty are:
To promote community participation in healthy recreation by providing facilities for the playing
of football and other sports capable of improving physical heatth"
To provide and assist in providing facilits'es for spor( recreation and other leisure time
occupation of such persons who have need for such facilities by reason of their youth, age,
infimiity or disablement, poverty or social and economic circumstances, or for the public 8t
large, in the interests of social welfare and with the object of improving their conditions of life.,
To advance the education of children and young people and provide opportunities for them to
develop their full capabilities and enable them to become responsible members of society so
that their conditicn of life May be improved" and
The furtheran￿ of such a charitable purpose or charitable purposes in any part of the wodd
and if more than one in such proportions and such manner as the Trustees shall from time-to-
time think fit.
Our misslon, vlslon and valu88
The Charity has adopted the following mission. vision and values to enable it to achieve its charitable
objects:
Our m15slon
Our vislon
Outrome
We use the FM>werof football and
Manchesler United to helpyoung
people make Positive choire5 in
thelr Ilves.
AlubJ￿Where all young
people areerfipoweredto
thar
knprovediommunl
Values
Unite
Nurture
Invest
Together
Excellence
Diversity
Recognising the power of football across the world.
- Growing the potential of every young person.
Sustained financial inveslment aligning to our charitable objectives.
- Working as a team with our stakeholders.
Delivering programmes to the highest standard.
- What makes us different, makes us stronger.

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(i ncorporating the Strategic Report) (continued)
Our mission. vision and values (continued)
What we do
Manchester United Foundation was formed as a lasting legacy to the Busby Babes and the club's tim
honoured tradition of celebrats'ng and believing in the potentral of youth.
The Foundation delivers educational and community outreach programmes to help young people make
positive choices in their INes by improving their-
Physical and mental health - By contributing to young people's abilty to Itve a healthy lifestyle.
Social wellbelng - By giving young people a sense of belonging and social inclusion.
Employability - By improving educational and employment outcomes.
Publlc Benefft
The Trustees have complied with the duty in section 4 of the Charities Act 2011 to have due regard to
public benefit guidance published by the Charity Commission.
Activitles achlevements and rfomianee
For many young people, the world that they know can be a daunting. unwelcoming and unequal place.
This is especially true if you INe in poverty or lack supporL
Manchester United Foundation therefore uses football to engage and inspire young people to build a
better life for themselves and unite the communities in which they live. Throughout 2023124, dedicated
staff deliVe￿d educational and community outreach programmes to help young people make positive
choices in their lives. The Charity has created and developed a number of strategic partnerships locally,
regionally and nationally in the areas of health. education and social justi￿. The strategies adopted by
the Charity, together with the activities and achtevements within each area of delivery, are out]ined
below.
Every single child and young person who participates in a Foundation programme does so free of
charge. Aimed at >21-year-olds, its delivery programmes are ￿ntred around enhancing..
Physical health
Mental wellbeing
Belonging
Employability
Throughout 2023124. over 42.000 Part￿1pants were uniquely engaged by Manchester United
Foundation.
Key participant data (sourced from participant database):
Unique participants
otal attendances at sessionslevents
Number of sessionslevents
otal hours of delivery
Number of girls engaged l OA of total
Number of participants from ethnic minority groups l 0/0 of
otal
Number of disabled participants l % of total
Number of qualifications achieved
42,178
519,570
33,213
39,330
11,184140/0
10,641122¥0
1,892 1140/0
1,799

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) {continued)
Actlvltles achlevements and rfomiance
contlnued
Soclal Retum on Investment
To calculate the health and social value cost savings associated with Manchester United Foundation's
work, data evaluation crganisation Substance has used a mcdified version of the social return on
investment (SROI) model it developed for the UEFA Grow team. The model involves identfying the
prcportion of participants who are at risk of suffering from conditions, such as poor mental health,
modelling, and where possible, measuring the amount of protection that specific projects provide
against such condikn'ons. 14Vhile some of the figures presented here are modelled estimations of the
value of the Foundation's work, rather than defined measures: Substance is confident that the figU￿S
are likely to underestimats the true value of the work because of the approach to discounting built into
the core model.
In the survey results, participants reported the following improvements against the key outcomes that
Manchester United Foundation wotks to improve:
OUTCOME
Social Impacl
£ooo'
4,121
2,854
1,267
25,215
10.525
797
1. Healthy
1.1 Improved physical activity levels
1.2 Improved physical literacy
. Happy
.1 Improved confidence I self- esteem
.2 Improved happiness I lrfe satisfaction
.3 Increased resilience I mental wellbeing
.4 Increased mots"vation and aspirations
. Connected
2,399
11,494
7,951
7,951
13,105
5,678
.2 Improved social engagement and sense of belonging
. Skilled
.1 Improved Fmjsib've engagement with education, employment
nd training
.3 Improved knowledge I skills
.4 Progression into new education, training or employment
pathways
GRAND TOTAL
3,108
4,319
50,392
'Impact calculated U￿n9 2023124 ocademic yeaTfigures
Education
ro
rammes
Manchester United Foundation uses the inspiration of football and Manchester United to deliver
bespcke programmes to support the learning. life skills and wellbeing of young people in educational
settings:
Primary schools
Secondary schools
Post-16 provision

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) {continued)
YEAR IN NUMBERS
117
42,178 £50M+
proJects
unique part[cIp￿ts
soclal return on iTNestment
5.4M
39,330
40Yo
social medla f￿lOWerS
hour5 ofdeli¥ery
female participation
33,213 519,570 1,799
se55i0nsand
eventsde11ve￿d
total free4)f.charge
attendances
qval1flcatl¢￿SJ(ertff1Cales
achleved
£608,317 1,685 £324,969
ralsed by season ticket holders and
onllnefax donatSons"
s(gned and charttable
items distributed
raised through matchday lottery
rèrorrtttJs0fJL￿É1O24
The social retum on investment above is calcujafed using data from September 2023 to August 2G24

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Activitles achievoments and rfomiance
continued
Education
ro
rammes
Partner primary schools
Over the course of the year, the Primary Reds department has partnered with 20 primary schools, all
of which have a dedicated delivery officer in their school for at least one day a week throughout the
sch¢301 year.
continued
Primary Reds, powered by the Premier League Primary Stars programme, aims to develop and improve
the wellbeing and life skills of children aged 5-11. In line wth the National Curriculum, the Foundation
addresses physical literacy, healthy lifestyles, and the broader curricu5um. The focus of the sessions is
on delivering high-quality PE as well as supporting and upskilling the class teacher.
Premier League Primary Stars impact data..
93 /rJ of students surveyed had improved physical wellbeing
94 /0 of students surveyed participate more in competitive sport and physical literacy
96°A of students sU￿eYed have developed their skills and knowledge
720/0 of individual student assessments recorded an improvement in their physical and healthy
literacy related to the scheme of work they focused on
Unique participants
Total attendances at sessions and events
Number of sessions and events
Total hours of delivery
Number of girls engaged l 0￿ of total
Number of participants from ethnic minority groups l Dk of total
Number of disabled partiapants l % of total
6,533
141,645
6,466
6,844
2,972 145°
2.594 140%
274 170/0
Partner secondary schools
In parthership with 37 high schools and eight special schools, Manchester United Foundation has
engaged, inspired and empowered 11-16-year-olds to make a better start in life. This was achieved
Delivering engaging and effective educational and personal wellbeing programmes
Developing partnerships with external businesses and organisations that provide students with
life skills
Leveraging the additional benefits of Manchester United Foundation to broaden horizons and
provide outstanding opportunities and e¥eriences
Within each of the partner h￿Jh schools. the full-time Offi￿rS have delivered a combination ot.
Curriculum lessons
Leadership programmes
Competitions
Extra<urricular activits'es
Individualised and group mentoring programmes
Careers events
Qualifications
Enrichment
Social action
Volunteering
Access to basic needs such as food
81page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
{incorporating the Strategic Report) (continued)
Act'viti
achievements and erfomiance
continued
Education
rammes
continued
Partner secondary schools (continued)
The programme works with a variety of partners and programmes to complement its provision. This
season has seen the growth of the Premier League Inspires programme, RISE, Eco Reds
environmental activity, and youth employment with the Growth Cornpany.
Manchester United Foundation delivered:
Unique participants
Total attendances at sessions and events
Number of sessions and events
Total hours of delivery
Number of girls engaged l % of total
Number of participants from ethnic minority groups l Oh of total
Number of disabled participants l % of total
11,996
245,861
16,650
19.124
5,441145Yo
4,388 1370
231150
Inclusion
ro
rarnmes
To ensure that all programmes that Manchester United Foundation delivers are equitable, the inclusion
team:
Provide equal opportunities for targeted cohorts (disabled. girls, ethnically diverse, LGBT+) to
engage with Manchester United Foundab'on
Embed inclusive praclice into Mancheskr United Foundation and its partners, mainstream work
A key focus, during the 2023124 season was to engage more disabled young people (5-25 years) in
sport throughout Greater Manchester. To achieve this, we provided opportunities to participate, support
and volunteer in sport and physical activity. with the focus being fun and inclusivity.
Inclusive Reds is Manchester United Foundation's disability and inclusion programme, which aims for
equal sportand physical activity opportunities for disabled people, their family and friends. We are proud
to be one of the largest disability providers among Club Community Organisations in the English football
pyramid.
The number of partner special schools has remained at eight this year. Our partner special schools are
located across Greater Manchester and a full-time officer works for the entire year within each school
like the partner school model.
Ability Counts, supported by MUDSA (Manchester United Disabled Supporters. Association). has
continued to grow in numbers and reputation. This weekly PAN-disability football programme is held at
the iconic Cliff Training Ground and has seen an expansion in both male and female teams.
This season was the third season of the FA Para Talent Hub for young players who have a hearing or
visual impairment or have cerebral palsy. The Para Hub offers budding footballet5 the chance to
embark upon an international pathway.
In partnership with MUDSA, Manchester United Foundation coordinated and delivered the annual
MUDSA Cup, an annual PAN-disability football toumarnent for disability teams from across the county.
The tournament took pla￿ at the Manchester United training ground and engaged a record number of
teams and players.

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Actlvltles achievements and erfomiance
contlnued
Incluslon
rammes
continued
The Foundation has delivered the following outputs to disabled participants..
Unique participants
Total attendances at sessions and events
1,772
40,817
5,704
6,767
507 129¥0
Number of sessions and events
Total hours of delivery
Number of girls engaged l % of total
Number of participants from ethnic minority groups l 0/0 of total
Number of disabled participants l % of total
488 128%
1,235 188°
Post-16
rovision
Using the medium of Manchester United and hook of the brand, Manchester United Foundation staff
support 16-21-year-olds to progress doser to employment. This is achieved by:
Engaging young people with a range of bespoke training programmes that enhan￿ their skills
and personal attributes
Partnering with education providers to deliver inspirational Manchester United Foundation
programmes
Provide information, positive experiences, and employment opportunities for young people
Wthin the higher education setting Manchester United Foundation has continued to evolve its
relationship with Ulster University in Northem Ireland. A full-time manager leads on developing a pla￿-
based approach where they deliver educational programmes and activities that engage and inspire
young people across the Foyle Leaming Community in Derry/Londonderry. Projects include female
engagement, Ability Counts. youth ambassadors, work experience and volunteering, Next Move
Careers and pathways events.
This year has seen the delivery of the first year of the Bsc Sports and Youth Leadership Degree in
partnership with Manchester Metropolitan Universty.
Manchester Llnited Foundation has maintained its provision in the further education setting and
continued ils relationship with Salford City College Group. Located at the Eccles Sixth Form College
site Manchester United staff support the BTEC Sport course by providing a high-quality football
programme. which complements the education programme and rrL)tivates and rewards the students.
Overall, the post-16 teams have engaged with:
Unique participants
Total attendances at sessions and events
Number of sessions and events
695
10,539
1,382
2,844
1021140
218132%
2116¥0
Total hours of delivery
Number of gids engaged l % of total
Number of participants from ethnic minorlty groups l % of total
Number of disabled participants l OA of total
10 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(Incorporating the Strategic Report) (continued)
Activfties achievements and rformance
contlnued
Communi
en
ement
ro
rammes
Manchester United Foundation believes the most effectNe way to engage communities and ensure our
interventions enhance the quality of young people's lives is by reaching out and becoming a trusted
partner. It is important that we get to know the young people with whom we work and allow them to feel
empowered in their community. We aim to partner wth organisations that are also trusted in the
community and whose values align to ours. while being proackn.ve in delivering our commitments over a
sustained period.
Operating in the areas of highest S¢xial deprivation, Manchester United Foun(Jation focuses on..
Creating an indusive and accessible social football offering
Providing targeted activities that support a young person's development
Street Reds
street Reds, a flagship social football offering powered by the Premier League Kicks pryJgramme, uses
the power of Manchester United and football to give young people an opportunity to pursue their interest
in playing, leading, coaching and participating in football. Over the last 12 months, the programme has
continued to grow with 23 sites operating Monday to Friday. The programme continues to deliver across
all ten boroughs of Greater Manchester as well as sessions in DefrylLondondery and Carlisle.
Dunng this period, the Foundation has delivered the following on the Street Reds programme..
Unique participants
Total attendances at sessions and events
Number of sessions and events
Total hours of delivery
Number of girls engaged l % of total
Number of participants from ethnic minority groups l Oh of total
Number of disabled participants l °A of total
7,346
59,655
2,958
3,924
1,550121%
2.774 138¥0
22916°
Street Reds provides a unique environment to work with the most vulnerable young people who need
the most support. This season has seen us continue individual support and mentoring to identified
young people in partnership with the Greater Manchester Violence Reduction Unit, Greater Manchester
Police. housing associations and school head teachers.
Partnerships with Trafford. Rochdale and Bury councils, through which Manchester United Foundation
has coordinated and delivered the Holiday Activities and Food programme, offering young people 8
space durin9 the holiday penods to socialise, take part in physical activity and receive a free meal.

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Activities achievements and rformance
continued
Talent Pathwa
Manchester United Foundation manages the Youth Development. Foundation and Emerging Talent
Centre (ETC) phases within the Girls Academy programme with the overall vision of having the most
successful talent development programme within girls, football, by revolutionising the way the game is
learned and played. The programme links in with the various Foundation programmes, ensuring that
girfs have the opportunity to play no matter their ability level, while still ensuring that those who show
potential can aC￿sS and progress through the player path4vay.
To ensure that girls have the best opportunity to develop not only as a footballer bul as a person the
programme provides a variety of support both on and off the pitch. Opportunities such as becoming a
referee, attending female health workshops, and being ball assistants and player mascots at women's
first team games have also provided been added enrichment opp)rtunitbes.
Girls receTrve training in a welcoming, positive, professional and safe environment that maximises each
person's potential.
The Academy operated five age groups (U10, U11, U12, U13, U14's) and worked with 78 registered
players throughout the season.
The Erc operated four age groups (U9, U11, U13, U15) and worked with 79 registered players.
Key highlights have been:
Won three out of the six major England's girls, and women's competitions.
Eight youth players attending the FA North-west Regional Talent sessions
10 youth players attended England international camps and four players attended other
international camps (Wales, Republic of Ireland and Scotland).
The only ETC in the county to pass the ASA PGAAC audrt without breaches.
Seven Efc players offered contracts for next season within the Girfs, Academy programme.
One ETC player signed for the U16s squad (PGA Phase) and is part of the U21s squad.
10 players from the ETC were offered Academy contracts by other north west clubs.
Six Academy graduates in the women's first-team squad
Second most youth graduates in the top two tiers of worrEn's football
TV￿ Academy graduates in the Lionesses squad
Unique participants
Average attendances at sessions and events
Average hours of attendan
Number of parts'cipants from ethnic minonty groups l OA of total
817
15
10
121 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(Incorporating the Strategic Report) (continued)
Generatin
funds
Some of our activities for generating funds are carried out through the Trading Subsidiary (Manchester
United Foundation rfrading) Limrted). The board of Manchester United Foundation (Trading) Limited
as of the date of this report (unless otherwise stated) is:
Virginia Buckley
Miohael Edelson
David Maples (resigned 18th December 2024)
Nicholas Booth MVO
Philip Lynch (resigned 22E¥i May 2024)
Kevin Cahill
Tanja Hettel (resigned 6th August 2024)
Tarun Kapur (appointed 19#5 June 2024)
Monica Shafaq (appointed 18th December 2024)
Thomas Demendonca (appointed 18th De￿rnber 2024)
Richard McGagh (appointed 18th December 2024)
lan Nolan (appointed 18th December 2024)
Anna Thwaites {appointed 181h December 2024)
The board meetings are held quarterly.
Fundraising
We continue to be grateful to all those that share our vision and mission by supporting our fundraising
campaigns and objectives.
Matchday lottery
Operating under gambling legislation and reporting to the Gambling Commission, the Charity operates,
through its trading am, a matchday executive lottery for the men's first-team games at Old Trafford to
generate income to support its Gharitable objects.
Manchester United's men's team played 25 (2023: 33) home matches during the 2023124 season. For
each of these games, we run a matchday executive lottery, raising £324,696 (2023.. £397.309)
throughout the season. including donations. We generated an average income of approximately £13k
per game throughout the season, a slight increase trom the previous season, when an additional eight
home matches were played. Generally, we have seen an increase in monies raised when a third prize
is on offer, which is usually a signed ttem from the opposing team.
Challenge events
We held our annual Old Trafford sleep out in November, with the final income induding Gift of more
than £47k. Following costs, all monies raised were split equally between Manchester United Foundation
and Centrepoint. We were supported by several club Eartners, including Chivas who provided breakfast,
Melitta who provided us with hot drinks, and Cadburys who provided chocolate. Meanwhile, staff
presentatives from fellow partners, DXC Technology and SportsBreaks. also took part in the event
and suppcrted with raising funds.
other fundwalslng events
Our annual charity golf day included 18 teams. comprising fomier Manchester United players.
generats.ng £36,2g6 in revenue, including pn)ceeds from an auction that we facilitated on the evening.
We were SLJPPOrted by Legends on the day. incSuding Andrew Cole, Ryan Giggs and Paul Scholes,
along with men's first-team players Jonny Evans and Tom Heaton.
Club partners supported the event. with adidas donating caps, VVOW Hydrate supplying water. and
Cadburys providing chocolate.
131 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Generatin
Funds
continued
Other fundraising events (continued)
We were involved in SÉX Supporters. Club events over the season, facilitating a raff e and auction at
each event, raising £28,201 over the course of the season. We came into contact with fans from across
the globe at these events, with 85 different Supporters, Clubs from 28 countries represented. We will
continue to support these events in the future.
Community campaigns
The Foundation held a matchday coat appeal. requesting that fans donated clean, unused coats, in
child and adult sizes. More than 2,000 were received from fans, players and staff, which were in tum
distributed to young people from Foundation projects. plus other charities, including some local to
Manchester and one identified charity in Ukraine.
Match-wom shlrts
We generated £74,229 {2023: £251,592) in revenue from Matchwornshirt auctions during the season
by holding five online auctions. The highest eaming game was against Brighton & Hove Albion in May
2024. Monies raised via Matchwornshirt auctions were Signrftcant￿ down from the previous season,
which was in part due to Cristiano Ronaldo's shirt generating a substantial portion of the revenue from
that season's auctions. Moreover, this season, we received fewer shirts per auction - having received
all 18 shirts from a matchday squad for the auctions in 2022123, compared to only receiving the 11
starting players, shirts for auctions during the more recent campaign. Next season, we will also benefit
from an additional aucts.on of shirts from the Manchesler United Legends game, in addition to the shirts
we receive from the club for men's and women's first team matches throughout the campaign.
Legacy giving
During Remember a Charity Week in September 2023, we supported the Remember a Charity
organisation and cornmunicated to fans to consider leaving a gift to Manchester United Foundation in
their will. As part of our marketing campaign, we obtained the support from legends and fans, and
communicated the story of one Manchester United fan, Ruth. who left a gift of more than £1,000 in her
will to support the Foundation.
Other notabl8 donations
We continue to receive ad hoc in-memory donations offline and online.
Goldman Sachs Gives donated £30k following a recornmer]dation.
Supporters and stsff also took part in other events, raising monies through our JustGiving platform.
141 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Generatin
funds
Club partners:
We are grateful to the following partners of Manchester United Football Club that supported the Charity
and Trading Subsidiary over the 2023124 season through the donation of funds, goods, tickets or
auction prizes-
DXC Technology became the Foundation's Presenting Partner at the start of the 2022123
season and continued this support throughout the 2023124 season. In addition to an annual
investment, they have invested time, resource and expertise into the continuous development
and delivery of a four-year technology and skills programme to support 50 students through the
'Digrtal Futures Academy,. In addition, they continue to support on wider inrtiatives across the
Foundation, with guest speakers, matchday hospitslity and tickets, and utilisation of their club
rights to the Foundation. They have also supported Foundation fundraising events such as the
annual sleep out.
adidas has continued to donate products and match lickets to the Foundation, which are
distributed by coaches and staff at projects. They have also continued to support on
Foundation-led projects by providing staff time and expertise and donating a number of their
club rights, including an end-of-season pitch day, which allowed 160 young people the
opportunity to play on the pitch at Old Trafford. Additional opportunities included the chance for
participants to watch the men's first team train. This support has been vital for us to engage
and inspire Ihe children and young people with whom we work.
Snapdragon has continued to support the Foundation with the donation of hospitality tickets
during the season for men's first team matches, which has been used to help build and maintain
relationships with key stakeholders.
All the support that we have recerved has allowed us to fund Current and future projects and
provide once-in-a-lffetime eXperIen￿S for our young people.
continued
Charity servlces
Recognition of charitable causes has a￿ayS been key in Manchester United's ethos of being a
community-minded club. The Cornpany has entered into a setvice level agreement with Manchester
United Football Club Limited (°MUFC" or "Club.), whereby in retum for payment of fees of £182,365
(2023: £173,681) by MUFC tothe Cotnpany, the Company has agreed to manage MUFC'S relationships
with third-party charities, seeking support from Manchestsr United Football Club Limitsd. It also
manages the partnerships with Kick It Out. the delivery of hospital visits, charity t￿kets, Dream Days
and the management of Club mascot Fred the Red.
During the 2023124 season, we held two Dream Days. The first took pla￿ in October 2023 and the
second in April 2024. Fans with serious and life-limiting illnesses had the opportunity to meet the men's
first-team squad, re￿Iving autographs, tsking photos and watching them training We also fulfilled
additional requests from supporters facing illness by providing further signed merchandise.
At Christmas t'me, we delivered gifts to patients in Royal Manchester Children's Hospital, The Christie
and Francis House Children's HOsp￿e ahead of the festive season. Members of the women's team
paid a visit to Royal Manchester Children's Hospital, honouring the club's annual tradition.
We have provided seven mascot pla￿S for men's team home games at Old Trafford.
Throughout the season, we distributed 686 charity tickets to fans with life-limiting illnesses. as well as
other supporters who have gone through difficu￿ times. We have also received hospitality opportunities
donated by executive club ticket holders. which have been utilised in the same way.
We continue to manage and facilitate all charty enquiries on behalf of the Club. In response to requests
for signed items from indrviduals raising funds for Manchester United Foundation and other charities,
we donated 1.487 signed items throughout the season, raising over £270k for 1.470 charities.
151 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Generatin
Funds
continued
Our fundraising approach
We understand how important it is to maintain the trust and support of our donors. The Foundation
voluntarily registers with the Fundraising Regulator. which holds the Code of Fundraising Practice for
the UK We ensure that we comply with the stsndards and principles as set out in the Code across all
of our activities. We do not engage with any third-party fundraisers.
We regularly ￿VIeW our fundraising activity in order to ensu￿ that we are adhering to best fundraising
practi￿$. During 2023124 we r￿1Ved no complaints relating to our fundraising.
Financial review
The overall position for Manchester United Foundation for the year is a surplus of £663,215 (2023..
£1,332,487) which leaves reserves of £7.784,972 (2023: £7,121,757) This indudes a profit before tax
from its trading subsidiary of £268,080 (2023.. £495.610). Profits from its trading subsidiary are wholly
gift aided to the Charity.
The Trustees are grateful to Manchester United Fcotball Club Limited for gifts in kind for the services
provided in relation to human resour￿5, information technology, payroll and maintenance, together
with the provision of kit and equipment, office facilits'es and a discretionary staff bonus. This equates to
an estimated monetary value of £713,547 (2023". £665,639). The increase in value in kind has been
driven by an increase in the estimated cost of IT support serVI￿S provided by the Club.
As the Charity has grown, we have identified new grant funds along with new sources of income from
fundraising initiatives. such as Legends matches held atold Trafford. We are also building relationships
with Club partners to further increase our funding and have secured a principal partner for a four-year
period until May 2026. Manchester United Foundation is well pla￿d to benefit from future grants for
community delivery and ftjndraising opportunities.
As part of the review of the Charity's performan￿, the Trustees reviewed the level of charitable spend
compared with charitsble and net trading income. Net trading income is defined as the net income
generated by the Charity and is the net of trading income generated, less the costs associated with that
income, which are mostty related to fundraising activities. Both trading income and trading costs are
disclosed in the notes to the financial statements.
Charitable income represents 811 other income of the Charity and charitable spend represents the funds
used by the Charity for charitable purposes. Both charitable income and charitabl8 spend are disclosed
in the notes to the financial statements.
For the year ended 30 June 2024, 88p in the pound of charitable and net trading income was spent on
charitable activities (2023: 77p in the pound).
The Trustees remain satisfsed with the ratio of charitable spend to charitable and net trading income but
will continue to monitor this In future years as part of assessing the performance 8nd contribution of the
Charity.
161 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Flnanclal revlew
contlnued
Investment powers and poll¢y
Under the Memorandum and Artides of Association, the Gharity has the power to invest funds at the
direclicn of the Trustees. The investment powers may be delegated to a professional investment
manager.
The Trustees intend to maintain the real value of the Charity's funds. They do nol invest in products
with significant volatility and risk and have agreed a policy of maxirnising returns on cash deposits is
the most sensible method. This gives a fixed return with minimal risk to capital.
Reserve8 policy
The Trustees have established the level of resenies (that is those funds that are freely available} that
the Charity ought to have. The Trustees deem it to be prudent lo hold a reserve in order that the Charity
can continue its objects should there be a short-term reducts'on in funding.
The Trustees have sought to establish new fvnding streams for the coming financial year to ensure that
seNes remain intact. As the Charity's activities grow, and operational costs increase. the Trustees
will make the appropriate decisions to alter the reserves year-on-year. The Trustees make the
comrnrtment that at any time the reserves will aim to be be￿een approximately six and 12 months of
anticipated operating costs.
Our reseNes remain in a strong posits'on and represent 11 nY)nths of anticipated operating costs, which
is within our target of between six and 12 months. Although our reserves look high. we do this to satisfy
the contractual commitments within our charitable delivery. At the end of 2023￿4, our average
outstanding contract was over 10 months {2023: 13 months), and our reserves and ongoing partnership
funding allows us to meet the commrtments on these agreements.
171 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
{incorporating the Stratsgic Report) (continued)
Plans for th8 future
The Foundation will expand existing programmes and develop new initiatives with a key focus on:
1. Deepen integration and impact into the local communities we serve.
2. Extend our reach to engage more young people.
3. Provide more inspirational engagements. building social cultural capitsl.
4. Support those where society provides less opportunity (socially deprived, disabled, girls and
ethnically diverse}.
5. Strengthen the Workfor￿ to facilitate the strategic ambttions set.
Specific targets within the thre&year action plan are:
artner prfmary
hools
'IOOOk of partner schools within two miles
of a partner high school
.50 partner schools
.9,000 unique participants
"70°/o NPS Rating - schools
.11 Treble Communities
ntsgration into communities
ncrease programme audience
Demonslrate value and impact
ntegration Into communities
artner
Ocondary
chools
ncrease programme audlence
.51 partner schools {10 special)
.11,000 unique participants
'70•/0 NPS Rating - schools
'75•/0 pupils from highest 20% deprivation
areas
Demonslrdte value and impact
ntegration into communities
ncrease programme audience
emonstrate value and impact
ntsgration into communities
ncrease programm8 audi8nce
emonstrate value and impact
Post-16
"600 unique pa￿1pants
.70 /0 NPS Rating
.5 Community Facilities Managed
.7,000 unique SR participants
'70Yo NPS Rating
.350/0 players from highest 200/0 deprivation
areas
mmunity
rogrammo8
alent
rogrammes
Integrntion into communities
Increase programme audlen¢e
Demonstrate value and Impact
.130 talented players engaged
.7 youth intemationals
181 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating tha Strategic Report) (continued)
Plans for the future (continued)
Chari
To continue to distribute items signed by the Manchester United men and women's first teams,
in response to requests from individuals fundraising for the Foundation and third-paty charities.
To continue to support children with life-limiting or life-threatening illnesses, and their families,
through the organisation of dream days. hospFtal visits. mascot experiences, match ts'cket
donations and ad hoc events.
To continue to manage the relationship with Manchester United Football Club Limited partner
charity organisations.
Fundralsln
To grow and diversify transacbonal fundraising income streams to include support from Club
initiatives, including Player of the Year award ceremonies. season ticket holder donations and
more.
To investigate opportunitEs to engage with the Club's global fan base dNJitally. with events such
as match-worn shirt auctions and other virtual events.
To develop current and new revenue streams through the Trading Subsidiary, particularly
through the matchday executive lottery. digital activrties, overseas challenges and a Legends
match at Old Trafford.
To manage existing and grow further partnership opportunities with Manchester United Football
Club Limited partners.
To raise awareness of the Foundation and its fundraising needs by improving fundraising
communications and working closely wilh Manchester United Football Club to promote
activities.
To engage further with supporters of Manchester United. by delivering fundraising activib'es
such as our stadium sleep out. supporters, club events, overseas legends matches and more.
To continue using the Just-Giving platform to support our fundraising activities.
Fundraising events planned for the 2023124 season included our biennial Legends game. which took
place in September 2024 against Celttc. and our overseas trek to Mount Kilimanjaro in October 2024.
We also held our third annual sleep oirt for November 2024.
Structure, Governance and Managèment
Introduction
Manchester United Foundation was incorporated on 13 June 2006 and obtained charitable status on 9
March 2007. The following report covers the year ended 30 June 2024 for the Foundation operating
with charitable status.
Govemlng Document
Manchester United Foundation is a company limited by guarantee governed by its Memorandum and
Articles of Association revised on 19 Juty 2023. The Charity is registered wth the Charity Commission.
Appointment of Trustees
Trustees are elected by the members. Membership of the Charity is open to Trustees of the Chanty and
each trustee will automatically become a member on their appointment to the Charity.
As set out in the Articles of Association. the Chair of the Trustees is nominated by the Trustees. A
majority of the Trustees in office from time to time must be Independent Trustees (independent being
defined as not a director or employee of Manchester United Football Club Limited or any of its fellow
group companies). Trustees are appointed for a period of th￿e years and the￿after one third of the
Trustees retire in rotation. the first to retire being those who have been in Offi￿ the longest.
191 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
structure, Governan¢e and Management (continued)
Appointment of Trustees (contlnued)
The Trustees may at any time ctropl any person duly qualified to be appointed as a trustee to fill a
vacancy in their number or as an a(Sditional trustee. however a Cl￿pted trustee only holds Offi￿ until
the next annual general meeb'ng, when the appointment is confimied by the members.
Trustee Inductlon and Tralning
Trustees undergo training, led by our in-house legal counsel, to ensure up to date knowledge on their
legal duties and obligations under charity law, including the key areas of conflict of interest and
independen￿. All trustees attended this training which was carried out during the period June to
September 2024.
Organisation
A Chief Executive is appointed by the Trustees to manage the day-to4lay operations of the Charity. To
facilitate effective operations, the Chief Executive has delegated authority, within the tems of the
delegation approved by the Trustees, for operational matters including programme management and
delivery, finance and human resources. None of the Trustees r￿1ve any remuneration.
As permitted by the Arbcles of Ass(￿latiOn. the Directors have the benefit of an indemnity which is a
qualifying Ihird-party indemnity provision as defined by Section 234 of the Companies Act 2006. The
indemnity was in force throughout the last financial year and is currently in for￿. Trustee indemnity
insurance covers the Trustees against personal liability for corporate or management claims that may
be made against them.
The Charity manages the Club's Disability Services provision and, through its Trading Subsidiary,
continues to manage the Club's charitable partnerships, signed merchandise requests and the Girls,
Regional Talent Glub and Emerging Talent Centre, generating a total income of £417,473 (2023.,
£342,873).
Rlsk Management
The Trustees are aware of factors both within and outside the Charity's control that are relevant to the
achievement of its objectives, including relakn"onships with eMploy￿s, key partners and funders, and
have a risk management strategy in place, which comprises:
An annual revtew of the risks the Charity may fa￿.
A quarterly review of the risks at each trustee meeting.
The establishment of systems and procedures to mitigate those risks identified.
The implementation of procedures designed to minimise any potential impact on the Charity
should those risks materialise.
The Foundation relies heavily on income sOUr￿d from its largest single fundraising event and
its partner sponsor. There is a risk that this event might not happen or deliver as much profit
as expected and that we will be unable to conb'nue to secure a principal partner sponsor. In
consideration of the risk, directors conb.nue to promote this event with other large clubs across
the world to ensure the event remains successful for both ft)otballing parties and will look to
seek new income streams to ensure they are not solely reliant on these SoU￿S of income.
The Foundation relies on income streams affected by the economic climate and government
spending policies. Fluctuations in these spending pattems may adversely affect the level of
funding available to the Foundation. In consideration of this risk the Trustees continue to seek
alternative funding sou[￿S to minimise the impact from this risk and ensure reseTh*es remain
intacL
20IPage

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Structure, Governance and Management (continued)
Risk Management (continuedl
An ongoing cost review at Manchester United Football Club may create risk for the Foundation
due to potential reductions to 'value in kind, support, services provided commercially to the Club
and ongoing relationshipslfunding from existing Club partners. In consideration of this risk, the
Trustees will seek altemativeladditional fundraising iniliatives and pursue new alliances with
Clublexternal partners. We will also evaluats areas where costs could be reduced without
impacting our contractual delivery.
The Foundation continualty monitors its safeguarding practices to ensure they remain of utmost
importance across all delivery areas. The Foundation ensuresthat all staff are suitably qualified
and trained in this area and regularty review the policy and procedures to ensure all risk areas
are covered.
Golng concern
On the basis of their assessment of the group's financial posrtion and resources, the Trustees believe
that the group is well placed to manage its business risks. Therefore, the Trustees have a reasonable
expectation that the group has adequate resources to conb'nue in operational existen￿ for a period of
at least 12 months from the date of approving these financial statements. Thus, they continue to adopt
the going concem basis of accounting in preparing the annual financial statements.
statement of Trustees. responsibilities
The Trustees (who are also directors of Manchester United Foundation for the purposes of company
law) are responsible for preparing the Trustees. annual report afid the financial statements, in
accordance with applicable law and regulation.
Company law requires the Trustees to prepare financial statements for each financial year. Under that
law the Trustees have prepared the financial statements in accordance with Untted Kingdom Accounting
Standards, comprising FRS 102°The Financial Reporting Standard applicable in the UK and Republic
of Ireland., and applicable law (United Kingdom Generally Accepted Accounting Practice). Under
company law, the Trustees must not approve the financial statements unless they are satisfi'ed that they
give a true and fair view of the state of the affairs of the charitable company and the group. and of the
incoming resources and application of resources, Tncluding the income and expenditure, of the
charitable group for that period. In preparing these financial statements, the Trustees are required to:
Select suitsble accounting policies and Ihen apply them consistentty.
ObseNe the methods and principles in the Statement of Recommended practi￿.. Accounting
and Reporting by Charities {2019).
Make judgements and estimates that are reasonable and prudent.
Prepare the financial statements on the going concem basis unless it is inappropriate to
presume that the charitable company will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and
explain the charitable company's transactions and disclose with reasonable accuracy at any time the
fi'nancial position of the chantsble company and the group and enable them to ensure that the financial
statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets
of the charitable company and the group and hence for taking reasonable steps for the prevention and
detection of fraud and other irregularities.
The Trustees are responsible for the Maintenan￿ and integrity of the chantable company's website.
Legislation in the Unrted Kingdom goveming the preparatK)n and dissemination of financial statements
may differ from legislation in other jurisdictions.

Manchester United Foundation
(A Company Limited by Guarantee)
Report of the Trustees for the year ended 30 June 2024
(incorporating the Strategic Report) (continued)
Statement of d￿CloSUre of information to auditors
In accordance with Section 418, Report of the Trustees (incorporating the Strategic Report) shall include
a statement, in the case of each trustee in office at the date the Report of ttte Trustees is approved,
that..
So far as the Trustees are aware. there is no relevant audit infomiation of which the company's
auditors are unaware, and.,
They have taken all the steps that they ought to have taken as Trustees in order to make
themselves aware of any relevant audit information and to establish that the Charity's auditors
are aware of that information.
Independent Audltors
A resolution has been proposed at the annual general meeting that Beever & Struthers be reappointed
as auditors to the Charity for the fi'nancial year ended 30 June 2025.
On behalf of the Trustees
Collette Roche
Trustee
13th March 2025
Manchester United Foundation (A Company Limited by Guarantee)
Charity Number.. 1118310
Company Number.. 05845172
22 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Reference and administrative details
Organisational Details
Registered Chartty Number: 1118310
Registered Company Number: 05845172
R8gister8d Office:
26 Sir Matt Busby Way. Old Trafford, Manchester, Lancashire
M16 ORA
Independent Audttors:
Beever & Struthers. Chartered Accountants and Business Advisors,
One Express. 1 George Leigh Stree( Ancoats, Manchester M4 5DL
Bankers:
Natwest, Manchester Cty Centre Branch. 19 Market Street,
Manchester M1 1 VIR
Sollcltors:
Brabners LLP, Horton House, Exchange Flags, Liverpool L2 3YL
Dlrectors and Trustees:
The directors of the charitable company {"the Charity. or °The Foundation.) for the purpose of charity
law are its Trustees and throughout this report are collectively referred to as the Trustees.
The directors of the Company who were in Offi￿ during the year and up to the date of signing the
financial statements were..
Chair of Trustees:
Collette Roche is the Chair of Trustees of the Foundation following her appointment on 21 June 2023.
Trustees:
John Arnold (resigned 4 March 2025)
Tom Bloxham MBE (resigned 24 February 2024)
Virginia Buckley
Michael Edelson (resigned 4 March 2025)
Eamonn Holmes OBE
Tarun Kapur CBE
David Maples
Lottie Birdsall Strong
Christopher Saad
Monica Shafaq
(Independent)
(Independent)
(Independent)
(Independent)
{Independent)
(Independent)
(Independent)
(Independent)
(Independent)
Chief Executive:
John Shiels MBE is Chief Executive Officer of the Foundation.
231 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Independent auditors, report to the members of Manchester United
Foundation
Report on the audit of the financial statements
Opinion
We have aud￿ed the financial statements of Manchester United Foundation {°the charitable
company") and its subsidiary {°the group") for the year ended 30 June 2024 which comprise the
Consolidatsd Statement of Financial Activtties including an Income and Expenditure Account, the
Consolidated and Charitable Company Balance Sheets. the Consolidated and Charitable Company
statement of Cash Flows and the notes to the financial statements including a summary of significant
accounting policies in note 1. The financial reporting framework that has been applied in their
preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 'The
Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom
Generally Accepted Accounting practi￿).
In our opinion, the financial ststements:
give a true and fair view of the state of the group's and of the charitable company's affairs as
at 30 June 2024 and of the group's incoming resourGes and application of resources for the
year then ended.,
have been proper]y prepared in accordan￿ with United Kingdom Generally Accepted
Accounting Practi￿. and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK} {ISAs (UK)) and
applicable law. Our responsibilities under those stsndards are further described in the Auditor's
responsibilities for the audit of the financial statements sects.on of our report. We are independent of
the group and charitable company in accordance with the ethical requirements that are relevant to our
audit of the flnancial statements in the UK, including the FRC'S Ethical Stsndard, and we have fulfilled
our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit
evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going ¢oncem
We have nolhing to report to you in respect of the following matters in relation to which the ISA'S (UK)
require us to reF)Ort to you where..
the trustees, use of the going concem basis of accounting in the preparation of the financial
statements is not appropriate" or
the trustees have not disclosed in the financial statements any identffied uncertainties that
may cast significant doubt about the charitable company's abilty to continue as a going
concern to adopt the going concern basis of accounting for a period of at least 12 months
from the date when the financial statements are authonsed for issue.
Other infomiatlon
The other information comprises the information included in the annual report, other than the financial
ststements and our auditorfs report thereon. The trustees (who are also the directors of the group
and charitable company for the purposes of company law) are responsible for the other information.
Our opinion on the financial statements does not cover the other information and, except to the extent
otherwise explicitFy stated in our report, we do not express any fomi of assurance conclusion thereon.
In connection with our audtt of the financial statements our responsibility is to read the other
information and. in doing so, consider whether the other information is materially inconsistent with the
financial statements or our knowledge obtained in the audit or otherwise appears to be materially
misstated. If we identify such material inconsistencies or apparent material misstatements, we are
required to determine whether there is a material misstatement in the financial statements or a
material misstatement of the other information. If, based on the work we have perfomied, we
conclude that there is a material misststement of this other information. we are required to report that
24 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Independent auditors, report to the members of Manchester United
Foundation (continued)
Other inforniation {continued)
We have nothing to report in this regard.
Opinions on other matters prescrfbed by the Companles Act 2006
In our opinion, based on the work undertaken in the course of the audit:
the information given in the trustees, report, wh￿h includes the directors, report and the
stralegic report prepared for the purposes of company law, for the financial year for which the
financial statements are prepared is consistent with the financial statements" and
the strategic report and the directors, report included within the trustees, report have been
prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and charitable company and their
environment obtained in the course of the audit, we have not identified material misstatements in the
strategic report or the directors, report included within the trustees, report.
We have nothing to report in respect of the following matters in relation to which Companies Act 2006
requires us to report to you if. in our opinion.
adequate accounts.ng records have not b￿n kept by the charitable company, or returns
adequate for our audit have not been received from branches not visited by us., or
the charitable company financial statements are not in agreement with the accounting records
and retums" or
certain disclosures of trustees. remuneration specified by law are not made. or
we have not received all the inf0m￿tIOn and explanations we ￿qUIre for our audit.
Responsibllitles of trustees
As explained more fully in the Statement of Trustees. ￿SponSibl11t1eS set out on page 21 the trustees
(who a￿ also the directors of the group and charitable company for the purposes of company law) a
responsible for the p￿paratIOn of the financial statements and for being satisfied that they give a twe
and fair view, and for such intemal control as the trustees determine is ne￿$sary to enable the
preparation of financial statements that are free from material misststement, whether due to fraud or
error.
In preparing the financial statements. the trustees are responsible for assessing the group and
charitsble company's ability to continue as a going concern, disclosing, as applicable, matters related
to going concern and using the going ¢oncem basis of accounb'ng unless the trustees either intend to
liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Auditorfs responslbilities for the audlt of th• financial statements
Qur objecttves are to obtain reasonable assuran￿ about whether the financial statements as a whole
are free from material niisstatement, whether due to fraud or error, and to Issue an auditorfs report
that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee
that an audit conducted in accordan￿ with ISAS (UKI will always detect a material misstatement
when it exists. Mi5Statements can arise from fraud or error and are considered material if, individually
or in the aggregate, they could reasonably be expected to influence the economic decisions of users
taken on the basis of these financial ststements.
25 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Independent auditors, report to the members of Manchester United
Foundation (continued)
Abllity to Detect Irregularities
Irregularities, including fraud, are instances of non<ompliance with laws and regulations. We design
procedures in line with our responsibilities, outlined above. to detect material misstatements in
respect of irregularities, including fraud. The specific procedures for this engagement and the extent
to which these are capable of detecting irregularities, including fraud is detailed below"
Our approach to identtyng and asse&8ing the risks of material misstatsm8nt in resp8Ct of
iffegu18rities, including fr8ud and non<ompliance with laws and regulations. was as follows..
the engagement partner ensured that the engagement team collectively had the appropriate
cornpeten￿, capabilities and skn'lls to identify or recognise non-complian￿ with applicable
laws and regulations.
we identified the laws and regulations applicable to the charitsble cornpany through
discussions wÉth directors and other managemenL and from our knowledge and experience of
the charity sector.
we focused on specific laws and regulations wh￿h we ￿nsIde￿￿ may have a direct material
effect on the financial statements or the operations of the charitable company, including the
Companies Act 2006, the Charitses Act 2011, health and safety legislation, data protecb'on
and fundraising regulations.
we assessed the extent of Complian￿ with the laws and regulations identified above through
making enquiries of management and inspecting legal corresponden￿.
identified laws and regulations were communicated within the audrt team regularly and the
team remained alert to instances of non-complian￿ throughout the audit
W8 assessed the susceptibilty of the charitable company's financiaj statements to material
misstat8m8nt, including obtaining an understanding of how fraud might occur, by..
making enquiries of management as to where they considered there was Su￿ptibIlity to
fraud, their knowledge of actual, suspected and alleged fraud.
considering the intemal controls in Pla￿ to mitigate risks of fraud and non-compliance with
laws and fegulations.
To address the risk of fraud through management bias and ovem'de of controls, we."
performed anatytical procedures on income and salaries to identify any unusual or
unexpected relationships
tested journal entries to identify unusual transactions.
assessed whether judgements and assumptions made in determining the accounting
estimates set out in note 1 were indicative of potential bias.
investigated the rationale behind significant or unusual transactions.
There are inherent limitations in our audit procedures described above. The more removed that laws
and regulations are from financial transactions, the less likely it is that we would become aware of
non-compliance. Auditing standards also limit the audit procedures required to identify non-
compliance with laws and regulations to enquiry of the directors and other management and the
inspection of regulatory and legal corresponden￿. if any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from error
as they may involve deliberate COn￿alment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on the
Financial Reporting Council's website at www.frc.or
.uklauditorsres
onsibilitses. This description
fomis part of our auditorfs report
261Page

Manchester United Foundation
(A Company Limited by Guarantee)
Independent auditors, report to the members of Manchester United
Foundation (continued)
Auditor's responsibilities for the audit of the financlal statements (contlnued)
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with
Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we
might state to the charitable company's members those matters we are required to state to them in an
auditcf s report and for no other purpose. To the fullest extent permitted by law, we do not accept or
assume responsibility to anyone other than Ihe charitable company and the charitable company's
members as a body for our audit work, for this report, or for the opinions we have fO￿￿ed.
Marla Hallows BA FCA Dcha (Senlor Statutory Auditor)
for and on behalf of Beever & Struthers
Chartered Accountants and Statutory Auditors.
One Express
1 George Leigh Street
Ancoals
Manchester
M4 5DL
13 March 2025
271 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Consolidated Statement of Financial Activities including an Income
and Expenditure Account for the year ended 30 June 2024
Unrestricted Restricted
funds
funds
2024
2024
Total
Total
Note
2024
2023
Income and endowments from:
Donation and legaGies
Charitable activtties
Other trading activrties
Investments
2,555,584
2,555.584 2,792,848
211,110
2.835.340 3,046,450
2,799,D09
650,976
462,S56 4,113,532
1,257,700
224,370
224,370
75,145
3,642,040 3397,896 6.939,936 6,924.702
Total
Expendlture on:
Raising funds
Charttable activities
Total
1809.090) (526,468) (1.335,558) (1,177,923)
(515,771) 14,425,443) 14,941,214) (4,414,242)
(1,324,861) 14,951,911) (6,276,772) (5,592,165)
Net Income l (expendlture) before tax
Taxation
Net income l (expendlture) after tsx
Transfers behveen funds
2,317.179 (1.654,015)
51
2,317,230 (1,654,015)
{1,654.015) 1,654.015
663,164
51
663.215
1,332,537
50
1,332,487
Net movement In funds
18
663,215
663,215 1,332,487
Reconciliation of Funds
Total funds brought forward at 1 July
Total funds carrled forward at 30
June
7.121,757
7,121.757
5,789.270
7.784.972
7,784.972
7,121,757
All incoming re50urce5 and resources expended are derived from contTnuing activilies in the current
and prior year. The notes on pages 33 to 49 form part of these financial statements.
The transfer from unrestricted to restricted funds represents the charitable funding required to deliver
restricted projects to the agreed levels.
281 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Consolidated Balance Sheet as at 30 June 2024
Note
At 30 June At 30 June
2024
2023
CURRENT ASSETS
Debtors
Cash and cash equivalents
TOTAL CURRENT ASs￿s
13
571,941
611,870
10,058,375 9,227,479
10,630,316
9,839,349
CREDITORS: AMOUNTS FALLING DUE MTHIN ONE
YEAR
14115
(2,845,344) (2,717,592)
NET CURRENT ASSETS
7,784.972
7,121,757
NET ASSETS
7,784,972 7,121,757
THE FUNDS OF THE CHARITY
Restricted income fvnds
Unrestricted funds:
Designated fijnds
General unrestricted funds
TOTAL CHARITY FUNDS
18
22
18
18
18,747
7.766.225
7.784,972
49.491
7,072,266
7,121,757
The notes on pages 33 to 49 form part of the* financial statements.
The financial ststements on pages 28 to 49 were approved by the Board of Trustees on 4 March 2025
and signed on its behalf by..
Collette Roche
Chair of Trustees
13th March 2025
Manchester United Foundation (A Company Limited by Guarantee)
Charity Number: 1118310
Company Number: 05845172
291Page

Manchester United Foundation
(A Company Limited by Guarantee)
Charitable Company Balance Sheet as at 30 June 2024
Note
At 30 June At 30 June
2024
2023
FIXED ASSETS
Investments
12
CURRENT ASSETS
Debtors
Cash and cash equivalents
TOTAL CURRENT ASSETS
13
1,021,515
1,219,828
9,468,267 8,468,115
10,489,782
9,687,943
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
YEAR
14115
(2,705,828) (2,567,356)
NET CURRENT ASSETS
7,783,954 7,120,587
NET ASSETS
7,783,955
7,120,588
THE FUNDS OF THE CHARITY
Restricted income funds
Unrestricted funds:
Designated funds
General unrestricted funds
TOTAL CHARITY FUNDS
18
22
18
18
18,747
7,765,208
7,783.955
49,491
7,071.097
7,120,588
The notes on pages 33 to 49 form part of these financial statements.
The financial statements on pages 28 to 49 were approved by the Board of Trustees on 4 March 2025
and signed on its behalf by:
Collette Roche
Chair of Trustees
13th March 2025
Manchester Unrted Foundation (A Company Limited by Guarantee)
Charity Number: 1118310
Ccmpany Number: 05845172
301Page

Manchester United Foundation
(A Company Limited by Guarantee)
Consolidated Statement of Cash Flows for the year ended 30 June
2024
Note
2024
2023
Nèt income for the reportlng year las perthe
consolidated statement of flnancial activities including an
Income and Expendfture Account)
Adjustments for:
Dividends, interest from investments
Decrease in debtors
Increase l (Decrease) in creditors
Net cash generated from operatlng actlvities
663,215 1.332,487
(224,370) (75,145)
39,929 1,398,803
127,752
177,311
606,526 2,478,834
2024
2023
Cash flows from operating activities
Net cash generated from operdting activities
606,526 2,478,834
Cash flow from Investing activftles
Dividends and interest from investments
Net cash generated from Investing activities
224,370
224,370
75,145
75,145
Net Increase in cash and cash equlvalents
830,896 2,553,979
Cash and cash equivalents at the beginning of the reporting
year
Cash and cash equivalents at the end of the reporting
year
9,227,479 6,673,500
10,058,375 9,227,479
311Page

Manchester United Foundation
(A Company Limited by Guarantee)
Charitable Company Statement of Cash Flows for the year ended 30
June 2024
2024
2023
Net income for the reporting year (as per the statement of
rinancial activities)
Adjustments for:
Dividends, interest from investments
Decrease in debtors
Increase in creditors
Net cash generated from operating activities
663.367 1,332,334
(13,513)
{6,704)
198,313
740,151
138,472
207,895
986,639 2,273,676
2024
2023
Cash flows from operatlng activiti88
Net cash generated from operating activities
986,639 2,273,676
Cash flow from investing activits"8S
Dividends and interest from investments
Net cash generated from investing activities
13,513
13.513
6,704
6,704
Net increase in cash and cash equivalents
1,000,152 2,280,380
Cash and cash equivalents at the beginning of the reporting
year
Cash and cash gqulvalents at the end of the reporting
yéar
8,468,115 6,187,735
9.468,267 8,468,115
321 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
1. ACCOUNTING POLICIES
General infomiation
Manchester United Foundation is a company limited by guarantee (Companies House No. 05845172)
and a registered charity (Registered Charity No. 1118310). It is incorporated and domiciled in the UK.
The address of its registered office is 26 Sir Matt Busby Way, Old Trafford, Manchester, Lancashire
M16 ORA.
The principal actrvities of the Charity are mentK)ned in the ReF)Ort of the Trustees.
Statsment of compliance
The consolidated and individual financial statements of Manchester United Foundation have been
prepared in accordan￿ wrth Accounting and Reporting financial ststements by Charities.. Statement of
Recommended Practice applicable to charities preparing their financial statements in accordance with
the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1
January 2015) (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102) and the Companies Act 20C6.
Summary of slgnlftcant accountlng polleles
The principal accounting policies applred in the preparation of these consolidated and separate financial
statements are set out below. These policies have been consistently applied to all the years presented,
unless othernise ststed.
Basss of preparatlon
These consolidated and separate financial ststements are prepared on a going concern basis in
accordanGe with historical cost convention.
The preparab.on of financial statements in conformity with FRS 102 requires the use of ￿rtaiN critical
accounting estimates. It also requires rrk3nagement to exercise its judgement in the process of applying
the fund accounting policies. The areas involving a higher degree of judgement or complexity, or areas
where assumptions and estimates are significant to the financial statements are disclosed in critical
accounting judgements and key source of estimati3n uncertainty.
The Charity constitutes a public benefit entity as defined by FRS 102.
Going concern
On the basis of their assessment of the group's financial posttion and resources, the Trustees believe
that the group is well placed to manage its business risks. Therefore, the Trustees have a reasonable
expectation that the group has adequate resources to continue in operational existen￿ for a period of
at least 12 months from the date of approving these financial ststements. Thus, they continue to adopt
the going con￿rn basis of accounting in preparing the annual financial statements.
Basis of consolldatlon
The consolidated financial statements include Manchester United Foundation and its subsidiary
Manchester United Foundation (Trading) Limited, applying the acquisition method of accounting. Intra-
group transactions are eliminated on consolidation. Uniform acccunting policies are adopted across the
group.
No profrt and loss account is presented for Manchester United Foundation, as provided by section 408
of the Companies Act 2006. The gross incomeltumover of the Company is £5,648,134 {2023'.
£5,552,040) and the result of the Company is a surplus for the financial year of £3g5,D82 12023..
£836,925), detennined in accordance wÉth the Act. This result is before tax and gift aid.

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
1. ACCOUNTING POLICIES (continued)
Income recognition
All income is recognised once the Charty has entitlement to the income, any performance conditions
attached to the item{s) of incorne have been met, il is probable that the Tncome will be re￿IVed, and
the amount of income receivable can be measured reliably.
Income represents the amount derived from all fundraising and charitable activities and arises in the
United Kingdom and overseas.
Donations received
Donations are recognised in the financial statements where entFtlement is demonstrable and are
credited to Unrestricted funds unless they a￿ made for specffic beneficiaries. In which case they are
credited to Restricted funds.
Sponsorship income
Sponsorship income is recognised based on ttE Charity's right to the income and therefore is
recognised in line with the payment schedule contained within the contract. Sponsorship income is
recorded in 'Donation and legacies, and credited to Unrestricted funds.
Grants and payment for servlces
Grants and payment ft)r servi￿$ (including Management servI￿s arKI Charity Partner Management)
are recognised when there are no external factors outside the control of the Charity that would prevent
it being received and are recognised On￿ as deferred income when there are conditions imposed that
specify the time period in which the expenditure can be made. Grant income is recorded in 'lncome and
endowments from Charitable activities. and 'Other trading activits'es,.
Bank Interest
Bank interest is recognised in the financial statements on the accruals basis and is credited to
Investments within Unrestricted funds.
Income from Fundraising Activities
Income from fundraising events (including lotteries income) is credited to 'Other trading activities, and
costs are shown within 'Raising ftjnds..
Tax exemption
The Charity is a ￿gIStered charity, and as such is entitled to certain tax exemptions on income and
profits from investments, and surpluses on any trading activities carried on in furtherance of the Charity's
primary objecb'ves, if these proffts and surpluses are applied solely for charitable purposes.
Resources expended
Charitable expenditure comprises expenditure that is directly attributable to actrvities in knrtherance of
the Charity's objects, included on an accruals basis. Irrecoverable VAT is included within the
appropriate expenditure category. The policy for including items within the folk)wing activity categories
of ￿sOurceS expended are detailed as follows:
expenditure on raising funds.. This indudes the costs of the fundraising activities which include
lotteries, the CharTty's management contract and Legends matches.
cttaritable activities,. This includes the partner schools programmes, the community
engagement, our girls. development programmes and a range of smaller ad hoc communty
delivery projects.
group overheads are allocated based on Ihe level of resources expended within each of the
above areas.
341Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
I. ACCOUNTING POLICIES (continued)
Gifts Sn klnd
Expenditure in relation to the Charity borne by Manchester United Football Club Limited has been
attributed and allocated to each expenditure category according to where the gifts in kind were
expended with the corresponding income benefit being recorded under 'Donation and legacies,. Gifts
in kind have been valued at management's estimate of the cost of an equivalent supply.
Restricted funds
Restricted funds held at the yearend relate to grant aided projects. The grant income has been received
ané is to be used for a specific purpose, according to the grant agreement. All expenditure on grant
aided projects is shown as restricted funds, resulting in a deficit position at the yearend. The transfer
be￿een restricted and unrestricted funds represents the charitable funding required to deliver these
projects to the agreed levels.
There are sufficient resources to comply with the stipulations of the grant agreements. All restricted
funds are held as cash and cash equivalents.
Unrestricted funds
Unrestricted funds held at the yearend relate to monies held that can be expended on any of the
charitable aims of the Charity. All unrestricted funds are held as cash an(1 cash equivalents.
Designated funds
Designated funds comprise of funds that have been set aside at the discretion of the Trustees for
specific purposes. The purposes and uses of these funds are set out in the notes to the financial
statements.
Employee benefits
The Company provides a range of benefits to employees. including paid holiday arrangements and
defined contribution pension plans.
Short-temi benefits
Short-term benefits, including holiday pay and other similar non-monetary benefits. are recognised as
an expense in the period in which the Servi￿ is received.
Defined contribution pension plans
The Charity participates in the Manchester United Group Pension Scheme, a defined contribution
scheme. The assets of the scheme are in a separate trustee-adm1n1ste￿d fund.
For defined contribution schemes the amount charged to the income and expense account in respect
of pension costs is ihe contribution payable in the year. Differences be￿een contributions payable and
actually paid are shown as either accruals or prepayments in the balan￿ sheet.
The costs of this scheme are charged to Ihe Statement of Financial Activities as incurred. The assets
of the scheme are held separately from those of the Company In an independently administered fund.
Investments - company
Investment in subsidiary is held at cost less accumulated impairment losses.
Cash and ca8h equivalents
Cash and cash equivalents includes cash in hand, deposits held at call wtth banks, and other short-
term highly liquid investments with original maturities of three months or less.
351 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
I. ACCOUNTING POLICIES (continued)
Financial instruments
The Company has chosen to adopt the Sections 11 and 12 of FRS 102 in ￿spect of financial
instruments.
Financlal assets
Basic financial assets, including trade and other debtors and cash and cash equivalents are initially
recognised at transaction pri￿, unless the arrangement constitutes a financing transaction, where the
transaction is measured at the present ¥alue of the future re￿Ipts discounted at a market rate of
interest.
Such assets are subsequently carried at amortised cost using the effectNe interest method.
At the end of each reporting period financial assets measured at amortised cost are assessed for
objective eviden￿ of impairment. If an asset is impaired the impaimient loss is the difference beiween
the carrying amount and the present value of the estimated cash flows discounted at the asset's original
effective interest rate. The impaimpnt loss is recognised in income and expenditure.
If there is a decrease in the impairment10ss arising from an event occurring after the impairment was
recognised the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carying amountwould have been had the impairment not previously been recognised.
The impaimient reversal is recognised in income and expenditure.
Financial assets are derecognised when (a) the conlractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are
transferred to another paty or (c) control of the asset has been transferred to another party who has
the practical ability to unilaterally sell the asset to an unrelated third paty without imposing additional
restrictions.
Flnanclal Ilabllltles
Basic financial liabilities, including trade and other creditors. bank loans. loans from fellow group
companies that are classified as debt, are initially recognised at transaction pri￿, unless the
arrangement constitutes a financing transaction. where the debt instrument is measured at the present
value of the future receipts discounted at a market rate of interest.
Debt instruments are subsequenty carried at amortised cost, using the effective interest rate method.
Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.
The Company does not hold or issue derNatives financial instruments.
361Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
1. ACCOUNTING POLICIES Icontlnued)
Related party transactlons
The Charity has disclosed tran&qctions with all related parties.
crftlcal accountlng Judgements and key source of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and
assumptions that affect the application of the accounting policies and the reported amounts of assets
and liabilities, revenue and expenses. Actual results may differ from these estimates.
Estimates and undertying assumptions are continually evaluated and are based on historical experience
and other factors. including expectations of future events that are reasonable under the circumstances.
Revisions to accounting estimates are recognised in the period in which the estimates are revised and
in any future periods affected. The Trustees do not consider there to be any areas where accounting
policies or estimates are critical to the preparation of the financial statements.
37 | Page

Manchester United Foundation
{A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
2. INCOME AND ENDOWMENTS FROM: DONATION AND LEGACIES
Year to
Year to
30Jun-24 30-Jun-23
Sponsorship
Manchester United donations
other Charitab￿ donations received
1.000,000
17,947
215,773
713,547
608,317
2,555,584
1,000,000
257,769
192.239
665.639
677,201
2,792,848
Gifts in kind
MU Season ticket and online donations
Donation and legacies are wholly unrestricted and include gifts in kind from Manchester United of
£713,547 (2003.. £665,639).
INCOME AND ENDOWMENTS FROM: CHARrrABLE ACTIVITIES
Unrnstrlcted
Restrfcted
Year to
Year to
funds
funds
3O￿un-24 30-Jun-23
Football
Community Engagement
High School Delivery
Primary School Delivery
Education- Other
Disability Schools Delivery
Other grants and income
54,493
398,710
1,422,525
379,349
64,447
232,523
283,293
54N93
398,710
1,422,525
379,349
257,207
232,523
301,643
92,271
281,369
1,273,634
344,410
257,397
187,233
362,695
192,760
18,350
211,110
2.835,340
3,046,450 2,799,009
381 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
4. INCOME AND ENDOWMEKfs FROM: OTHER TRADING ACTIVITIES
Yearto
Year to
30Jun-24 30-Jun-23
Lotteries
Charity partner management
Home legends matches
Overseas Legends matches
MU Girls, Academy & Emerging Talent Centre
Fundraising Auctions
Other activities
324,696
182,365
397,309
173,681
888
249,539
102.430
254,502
1.113,532
224,003
385,732
76,087
1,257,700
Charity partner management income of £182,365 (2023: £173,681), payable by Manchester United
Football Club Limited: are restricted funds relating to management of the Club's charity partners.
£30,652 (2023.. £29,192) for disability ServI￿S to Club within 'Other acb'vities, are also treated as
restricted funds. The MU Girls, Academy is managed by the trading company and is fully-funded by
Manchester United Football Club.
S. INCOME AND ENDOWMENTS FROM: INVESTMENTS
Year to
30-Jun-24
Year to
30-Jun-23
Investment income received on cash deposits
224.370
75,145
Investment income is wholly unrestricted.
6. EXPENDITURE ON: RAISING FUNDS
Unrestricted
Restricted
Year to
Year to
funds
funds 30-Jun-24 30-Jun-23
Staff costs
Group overhead apportionment
Fundraising events I programmes
other activities {incl departmental overheads)
MU Girls Academy & Emerging Talent Centre
Gifts in kind
245,759
346,785
43,622
126,447
62,622
91,597
308,381
438,382
43,622
137,750
206,852
200,571
232.008
432.717
75,605
94,440
200,251
142.902
11.303
206,852
154,094
46,477
809,090
526,468 1.335,558
1,177,923
391 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
7. EXPENDITURE ON: CHARITABLE ACTIVITIES
Unrestrlcted
Funds
Restrfcted
Funds
Yearto
30Jun-24
Year to
30-Jun-23
Football
Community Engagement
High school delivery
Primary school delivery
Disability schools delivery
Education - other
Covid-19 response activities
other community delivery
86,628
296,123
730,273
2,211,182
542,621
341,494
108,184
382.751
730,273
2,211,182
542.621
341,494
381.139
94,776
256,978
361,987
508,536
2.049,342
449,353
292,204
405,630
66,925
280,265
272,955
94.776
61.412
195,566
515,771
4,425,443
4,941.214
4,414,242
Included in the above are direct costs. overhead apportionment. and staff costs relating to charitable
activiti8s. Overheads have been apportioned on the estimated value of services and goods consumed
in each area.
8. GOVERNANCE COSTS
Year to
Year to
30Jun-24 30-Jun-23
Audit fees
Taxation ServI￿S
Trustees indemnity insurance
12,465
1,647
5,376
19A88
11,330
1,890
5,376
18,596
Governance costs are included within apportioned group overhead costs.
. TAXATION
The Charty is a registered charity, and as such is ent￿ed to certain tsx exemptions on income and
profits from investments, and surpluses on any trading activities carried on in furtherance of the
Charity's primary objects'ves, if these profits and surpluses are applied solety for charitable purposes.
The tax assessed for the year is equal to (2023.. higher than) that resulting from applying the standard
effective rate of corporatson tax in the UK for the year ended 30 June 2024 of 25°A (2023.. 20.5 % ).
Blf per
rinancial
statements
Clf par
Charged
financial
to I&E ststements
Credited
to Equity
Current tax:
Corporation tax payable
Current year
237
(67.072)
167,072)
67,021
67,021
186
237
186
40IPage

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
9. TAXATION (continued)
Year to
Year to
30-Jun-24 30-Jun-23
Current tax.
UK Corporation tax on income and expenditure for the yeai
Less: Gift Aid
67,072
101,539
(67,072) (101,539}
Total current tax
Deferrnd tax:
Origination and reversal of timing dIfferen￿S
Adjustment in respect of previous periods
Effect of changes in tsx rates
{60}
41
(51)
50
Total tax per income and expenditure account
(S1)
50
Year to
Year to
30-Jun-24 30-Jun-23
Net income before tax
Add: Charitable eX￿ptionS
Taxable income
663,164
1,332,537
1395,084) (836,927)
268,080
495,610
67,021
101,580
Tax on profrt at standard UK tax rate of 25% (2023." 20.5%)
Effects of..
Tax rats changes
Effect of Gift Aid
Total tax charye for the year
(67,072) (101,539)
(51)
50
Deforred tax la&80ts):
2024
2023
Provision at start of year
Adjustment in respect of prior years
Deferred tax charge to income ststement in the year
Provision at end of year
14B9)
(539)
50
1540
(489)
411 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial ststements for the year ended 30 June 2024
(continued)
9. TAXATION Icontinuod)
The standard rate of Gorporation tax rate for the year ended 30 June 2024 was 250￿ {2023.' 20.5 % ).
The prior year rate being lower than this year due to the rate being blended following an increase in the
UK'S main corporation tax rate, to 250k. on 1 April 2023.
10. TOTAL WAGES AND SALARIES
The following stsff costs are included within Expenditure on the Income and Expenditure Account. A
bonus (included within Wages and salaries. telow) of £148,062 {2023: £185,024) relates to a
discretionary bonus paid to the Foundation staff by Manchester United Football Club Limited and is
included in the gifts in kind figure within the relevant expenditure category.
Year to
Year to
30Jun-24 30-Jun-23
Wages and salaries
Social security costs
other pension costs (note 20)
3.984,099
3,547,518
363,709
324,814
299,769
260, 356
4,647,577 4,132,688
Monthty average number of employees in the year:
2024
2023
Number
Number
Operational employees
110
100
The employee nurnbers noted above relate to staff on contracts. not casual tems of engagement.
421 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
10. TOTAL WAGES AND SALARIES {contlnued)
Key management compensation
Key management personnel comprise the Chief Executive Offiw, Operations Director, Director of
Finan￿ & Compliance and Head of Communications. The compensation paid or payable to key
management for employee services is shown below:
Year to
Year to
3O￿un-24 30-Jun-23
Salaries and other short-term benefits
551.679
551,679
544,101
The number of higher paKI employees was".
2024
2023
Number
Number
£70,000 - £80,000
£80,000 - £90,000
£130.000 - £140,000
Total pension contribution for the members of staff eaming in excess of £60.000 was £32.457 (2023:
£33,072).
11. TRUSTEES, EXPENSES
The total expenses of the Trustees were £1,968 (2023: £240). None of the Trustees received any
munerats'on during the year (2023: none). Four (2023.. 1) trusteels were reimbursed travel expenses
to attend Trustees, meetings. Meetings were held both in person and virtually during the year.
431 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
12. INVESTMENTS
Asat30
June
2024
Asat30
June
2023
Charlty
Investment in subsidiary
The Charity owns the enti￿ share capital of Manchester United Foundation ￿rading) Limited ("the
Trading Subsidiary"). The Trading Subsidiary has an issued share capital of one ordinary share of £1
and was incorporated in England on 13 June 2Ci)6 (Registration Number 05750031). The registered
address of the Trdding Subsidiary is". 26 Sir Matt Busby Way, Old Trafford. Manchester, L8ncashire
M16 ORA.
The main activities of Manchester United Foundation (Trading) Limited include matchday lotteries, a
service contract managing charty and trading activtties for Manchester United Football Club Limited
and various fundraising projects eg. Legends matches. auctions.
A summary of the balance sheet and profft and loss account for Manchestsr Untted Foundation
(Trading) Limited is as follows:
Asat30
June
2024
Asat30
June
2023
Total assets
618,898
773,491
1617.881} (772,322)
1,017
1,169
Total liabilities
Net assets
Year to
30Jun-24
Year to
30-Jun-23
Tumover
Expenditure
Proflt on ordlnary actlvlties (before
taxatlon
1,291,802
1,372,662
(1.023.722) (877,052)
and Glft Ald donatlon to the Charlty)
268,080
495,610
441Pa8e

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial ststements for the year ended 30 June 2024
(continued)
13. DEBTORS
Group
Asat30
June
2024
Charity
Asat30
Jun8
2024
Asat30
June
2023
Asat30
June
2023
Trade debtors
Deferred tax
Amount owed by group undertakn'ngs
other debtors
378N17
249,626
489
357,290
241,642
478,363
185,862
1,021,515
622,086
356.100
1,219,828
192.984
571,941
361.755
611,870
The trade debtor balance owng by Manchester United group companies, at 30 June 2024, was £5,378
{2023'. £S,050). The amounts owed by group undertakings are unsecured, interest free, and repayable
on demand. The Trustees consider the carying value of trade and other debtors to be the same as the
book value due to their short-term nature. Deferred tsx relates to plant pool assets.
14. TRADE AND OTHER CREDITORS
Group
Asat30
June 2024
Group
Asat30
June 2023
Charity
Charty
Asat30
Asat30
June 2024 June 2023
Trade creditors
Other creditors
27.871
591,774
619,645
79,556
540,346
619,902
2,131
525,529
527,660
570,677
570,677
The amount owing to Manchester United Football Club Limlted at 30 June 2024, of £380,399 {2023'.
£352,197) in respect of payroll and other costs is Included within the 'Other Gredrtors, balance. The
Trustees consider the carrying value of trade and other credrtors to be the same as the book value due
to their short-term nature.
451Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
15. ACCRUALS AND DEFERRED INCOME
Group
Asat30
June 2024
Group
Asat30
June 2023
Charity
Charity
Asat30
Asat30
June 2024 June 2023
Deferred Incomo
School I college delivery
Communty Engagement
Sponsorship
Inclusion programme
MUDSA programme
Rise programme
Other deferred income
711.093
32,034
1.000.000
644,197
28,126
1.000,000
6,944
40,000
711,093
32,034
1.000.000
644,197
28,126
1,000,000
6,944
40,000
6.667
219.474
1.969,268
256,431
2,225,699
6,667
167,555
1,917,349
217,802
2.135,151
168,692
1,887,959
209.731
2,097,690
162,259
1,881,526
158,170
2,03g,696
Accruals
Group
2024
Group
2023
Charlty
2023
2024
Def8rr8d Income at the baginning of tho
year
Amounts released from previous years
Incoming resources defe￿ed in the current
year
Deferred Income at the and of the year
1.887,959
1.835,633
1,881,526
1,834.869
(1.887,959) (1.828,689) (1,881.526) (1,827,925)
1.969.268
1,881,015
1,917,349
1,874,582
1.969,268
1,887,959
1.917,349
1,881,526
Deferred Income, in both the Group and Charity, represents income re￿iVed and re￿1vable prior to
the year-end in respect of future periods.
16. FINANCIAL INSTRUMENTS
Group
Asat30
June 2024
Group
Asat30
June 2023
Charity
Charity
Asat30
Asat30
June 2024 June 2023
Financlal assets that are debt instruments
measured at amortised cost:
Trade debtors
Other debtors
Amounts owed by group undertakings
Cash at bank and in hand
378,417
192.984
249,626
361,755
357,290
185,862
478,363
9,227,479
9 468 267
9,838.860 10.489,782
241,642
356,100
622,086
8,468,115
9,687,943
10,058,375
10,629,776
46 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial ststements for the year ended 30 June 2024
(continued)
16. FINANCIAL INSTRUMENTS {continued)
Group
Asat30
June 2024
Group
Asat30
June 2023
Charity
Charity
Asat30
Asat30
June 2024 June 2023
Financial liabilities measured at amortised
cost
Trade creditors
Other creditors
Accruals
27.871
591,774
256.431
876.076
79,556
540,346
209,731
829,633
2,131
525,529
158,170
685,830
570,677
217,802
788,479
17. STATUS OF THE GUARANTEE
The Charity is a company limited by guarantee and has no share capital. The liability of the Trustees
as members is limited by guarantee to not more than £1.
18. NET MOVEhlENT IN FUNDS
Unrestricted
income
funds
Restricted
income
funds
Total
Charity
Funds
Group
Total funds brought fomard at 1 July 2023
Net incomingl{outgoing) resources before transfers
Gross transfers be￿een funds
Total funds carrled forward at 30 June
2024
7,121,757
2,317,230 (1,654,015)
(1.654,015)
1,654,015
7,121,757
663,215
7,784.972
7,784,972
Unrestricted
Income
funds
Restn"¢ted
Income
funds
Total
Charity
Funds
Charity
Total funds brought fonvard at 1 July 2023
Net incomingl(outgoing) reSoUr￿S before transfers
Gross transfers bef￿een funds
Total funds carried forward at 30 Jun8
2024
7,120.588
2,317,382 (1,654,015)
{1,654,015)
1,654,015
7,120,588
663,367
7,783,955
7,783.955
All expenditure on grant aided projects is shown within restricted funds, resulting in a deficit position at
the year*nd. The transfer between restricted and unrestricted funds represents the charitable funding
required to deliver these projects to the agreed levels.
471 Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
19. ULTIMATE CONTROLLING PARTY
The ultimate parent undertaking and controlling party of the Charity a￿ its Trustees.
20. PENSIONS
The Charity participates in the Manchester United Group Pension Scheme, a defined contribution
scheme. The assets of the scheme are in a separate trustee-administered fund. The Cost recognised
in the year in the Statement of Financial Activities is equal to the contributions payable to the scheme
for the year and they total £299,769 {2023. £260,356). The amounts outstanding at the year-end are
£24,712 (2023. £23,502).
21. ANALYSIS OF NET ASSETS
Group
Fund balan￿S at 30 June 2024 are represented by:
Unr88tricted
Restrdcted
Total
Current assets
Creditors.. amounts falling due within one year
10,271,102
1,761,451
8 509.651
359,214 10.630,316
1,083,893
2,845,344
724,679
7,784,972
Charlty
Fund balances at 30 June 2024 are represented by:
Unrestricted
Restrlcted
Total
Current assets
Creditors.. amounts falling due within one year
10,132,968
1673 550
356,814 10,489,782
1,032,278
2,705,828
675,464
7,783,954
8,459.418
22. DESIGNATED FUNDS
Balancè at
Incoming
30 June 2023 Resources
Resources Transfers
expended
Balance at
30 June 2024
Covid-19 Response Fund
Santa's Red Helpers
Mini Medics
21.190
13,272
15,029
49,491
(21,190)
(15,054)
2,500
38,744
8,000
6,218
18,747
The income funds of the Charity include the following designated funds which have been set aside from
General unrestricted funds by the Trustees for specific purposes:
48 | Page

Manchester United Foundation
(A Company Limited by Guarantee)
Notes to the financial statements for the year ended 30 June 2024
(continued)
23. RELATED PARTIES
The Charity's wholly owned subsidiary, Manchester United Foundation (frading) Limited ("the Trading
Subsidiary.) was incorporated on 21 March 2006. The purpose of the Trading Subsidiary is to operate
commercial activities, the profits from which are donated under a deed of covenant to the Charity for
charitable purposes.
The Charity is supported by Manchester United Fwtball Club Limited. in that the Charity has a licence
to use the Club's brand, and also certain rights to use the Club's ground at Old Trafford. During the
year, the Club provided the following services to the Charity:
The Club prO￿sSed the Charity's payroll for the year for a total value of £4,344,095 {2023:
£4,017,958) which the Charity repays in full to the Club with the exception of a discretionary
bonus of £148,062 (2023. £185,024) which is included in the gifts in kind figure disclosed in
note 10. No service charge or mark-up f￿ was paid to the Club by the Charity for the provision
of this service. The amount owing to the Club by the Charity in relation to payroll repayments
at year end was £380,399 (2023.. £352.197}.
Other payments made by the Charity to the Club during the year amounted to £214,697 {2023:
£67,437) relating to recharge of costs incurred on the Charity's behalf and servi￿$ delivered
by the Glub. The amount owing to the Club by the Charity in ￿latiOn to these payments at year
end was £nil. (2023.. £nil).
other payments made by the Club to the Charity amounted to £535,870 (2023. £415,740).
principalty in relation to charity and trading services provKled to the Club. The amount owing
by the Club to the Charity at the year-end was £2,4C14 (2023: £4,756).
The Charity paid MU RAML Limited £10,375 during the year (2023: £6,712), principally in
relation to branded kit and merchandise.
The Charity recerved £nil (2023: £6,913) from MU RAML Limrted principally in respectof monies
raised for the Charity through ￿ndraisIng.
The Charity provided mascot services to the value of £7,345 (2023: £4,920) to Manchester
United Women's Football Club Limited during the year. The amount outstanding at the year-
end was £2,974 (2023: £1,294)
Michael Edelson is a former trustee of the Foundation. a director of Manchester United Foundation
(Trading) Limited and a director of Manchester United Football Club Limited.
Collette Roche is the Chair of Trustees for the Foundation and Chief Operating Offi￿r of Manchester
United Football Club Limited.
David Maples is a trustee of the Foundation. was formerly a director of Manchester Unitsd Foundation
(Trading) Limited and a senior equty partner at Brabners LLP, the Foundation's solicitors. The Charity
paid Brabners LLP £1,213 (2023: £964) during the year in respect of legal and company secretsrial
senil￿s.
Tarun Kapur CBE is a trustee of the Foundation and the Chief Executive Officer of six (2023: four)
schools, Dean Trust Ardwick, Dean Trust Wigan, Dean Trust Rose Bridge, Dean Trust Broadoak,
Partington Central Academy and Forest Gate Academy, in which the Foundation works. The payment
made by all six schools during the year was £116,652 (2023: £168.390). The amount owing by these
schools at year*nd was £22,051 {2023: £6,314).
John Shiels, the Chief Executive Officer. is a trustee of the Dean Trust, which runs six (2023: four)
schools, Dean Trust Ardwick, Dean Trust Wigan, Dean Trust Rose Bridge, Dean Trust Broadoak,
Partington Central Academy and FoEst Gate Academy, in which the Foundation works. The payment
made by all six schools during the year was £116,652 (2023: £168,390). The amount owing by these
schools at year-end was £22,051 {2023: £6,314). He is also a trustee of Sir Bobby Chadton Foundation
who are an associated charrty of the Club and ￿ supported by the Foundation as part of the Charty
Services Contract with the Club.
Manchester United Foundation (Trading) Limtted. the trading subsidiary of Manchester United
Foundation, made a gtft aid payment of £268,283 (2023: £495,409) relating to the 2022123 financial
year.
491 Page